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Library Pricing: Set up & Manage Supplier Pricing & Lead Time Agreements in the Product Library

Store all your supplier pricing in one place, avoiding scattered lists and outdated info.

 

This article will walk you through setting up and maintaining all your pricing and lead time agreements for items in your Library. It will start by building up the agreements one by one or in bulk. Then, it will explain how to easily compare alternative suppliers' pricing, lead times, and other key metrics across multiple suppliers for each product and select the best one to use on your projects.

1. Add your first “Alternate Supplier” by selecting “Add Supplier” in the library.
This new column should be visible by default, if not, open the column selector on the right of the table to select and add back to the table view.



2. Add Suppliers and agreement details on the item individually in the “Suppliers” tab



  • Use the Regions so that Supplier Options are auto-filtered on Projects based on the project location.
    Learn more about regions here

  • When pricing is no longer valid warnings will appear to indicate a need to update or keep

     

  • Notes 1: are typically used to indicate discount tiers or other unstructured purchasing indicators

  • Note 2: If the columns for Lead Time and Unit Cost (the price of the product your organization pays) that are defaulted are not set up these can be adjusted in the procurement account settings

3. Set up and manage new prices & lead times in bulk with “latest updates” backlog and notifications

When suppliers provide new pricing or lead times on projects, these automatically appear in the backlog so you can quickly review and push the new rates across all relevant projects, helping you stay on top of the latest costs without tedious manual updates.

  1. Easily manage a backlog of new suppliers, prices, and lead times that can be pulled directly into your library.

  2. Quickly accept or dismiss updates, with options to filter by projects and more.

  3. Updates are pushed to any live projects to reduce the time required to keep product pricing accurate and consistent across projects. (See step 5)


Note: For first-time set-up, all prices and lead times that have been added to the backlog enable you to either filter down to the Suppliers you have pricing agreements for or review individually.

4. Review / Select Suppliers on Projects

With just a few clicks, bring your preferred supplier pricing into any project. Pricing data flows seamlessly from the library to streamline your estimates and sourcing decisions.

  1. Selecting & assigning a Supplier will pull in the Uni Cost & Lead Time in the agreement

  2. Data currently in those cells will be overwritten and the Supplier replaced

5. Receive update notifications on projects


Your colleagues get automatically informed when new prices and lead times become available and are updated in the library


a. Notifications appear when new prices are available and a Supplier is already selected

b. Open the side panel by clicking Library updates on the top right of the project sheet
Note: All library updates including product info appear together


c. Review and select to update or reject your updates to your project items


How can I benefit from Library Pricing?

If you apply this feature to your team workflow, you can have a centralized place where the latest prices and updates are available to all your team members without the need to go back and forth between projects, finding the best price per supplier will become a couple clicks away.

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